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NTPC Partner with ONGC to Form JV to Explore RE Opportunities

Power giant NTPC and oil major ONGC have partnered to establish a joint venture (JV) to explore opportunities in the area of new and renewable energy.

 

The joint venture company (JVC) will be formed through their subsidiaries – NTPC Green Energy and ONGC Green Energy to advance their interest in this space. NGEL has also submitted an application to the Ministry of Corporate Affairs for the incorporation of a 50:50 JVC.

 

It will tap into various renewable energy (RE) and new energy segments, including solar, wind, energy storage, green credits and others. It also looks to acquire RE assets, and mulls participation in upcoming tenders in Tamil Nadu and Gujarat.

 

The domain expertise and resources of both entities will help contribute significantly to India's RE landscape, and drive innovation.

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